Fill your boot! Rumour is Ricciardo wants $33m a F1 season

UPDATE: A REPORT has emerged out of Italy claiming to reveal what sort of payday Daniel Ricciardo is demanding from suitors looking to sign him for 2019 and beyond.

Ricciardo is off contract with Red Bull at the end of this season and is yet to announce what his future holds - but regardless of who he pledges his allegiance to, it's likely to be lucrative.

According to Express, Italian publication Gazzetta dello Sport is reporting Ricciardo wants a contract worth $66 million over two years with whatever team he drives for.

It is alleged in the report Ricciardo has told Ferrari and Mercedes of his salary demands, in case he decides to leave Red Bull.

This news comes after an earlier report suggesting Ricciardo has contractually entered into an exclusive period of negotiating with Ferrari.

But the Aussie may not hold all the power, with Red Bull boss Christian Horner putting down a deadline for his star to re-sign.

EARLIER: Daniel Ricciardo only has until August to agree to a new deal with Red Bull.

Fresh from the bombshell report that Ricciardo has contractually entered into an exclusive period of negotiating with rivals Ferrari, Red Bull boss Christian Horner has put down a deadline for Ricciardo to re-sign.

Horner has told German magazine Auto Motor Und Sport Ricciardo has until August to sign a new contract - or the team will begin looking for his replacement.

The 28-year-old remains the hottest driver on the F1 market for 2019 with his Chinese Grand Prix victory cementing his status as the sport's most-desired free agent.

The Perth product has insisted he will remain with Red Bull if they are able to prove they can help him win a championship in the next few years.

However, a report on Tuesday (AEDT) claimed Ricciardo has signed an understanding with Ferrari to negotiate a new contract with the Italian team without Ricciardo being able to negotiate with any other team until the end of June.

In response, Horner has been quoted declaring Ricciardo only has until August before the team will give up on him.

"There should be a decision by the summer break at the latest," Horner said of the August break.

Daniel Ricciardo has a tough call to make.

"We do not want to wait forever. We have other good options. Our priority is to continue working with Daniel. If that does not work, we'll pull the other options."

He even said Red Bull would likely first look at Carlos Sainz as Ricciardo's replacement should the Australian choose to make a move to Ferrari. Reigning champions Mercedes are also reportedly interested in Ricciardo.

"The most obvious is Carlos Sainz," Horner said.

"He is under contract with us. And then there are a few young drivers."

It comes after Sky Sports F1 analyst Mark Hughes, writing in Motorsport magazine, wrote the report of Ferrari's link with Ricciardo is correct.

"There are many different types of contractual options, but this one is said to be on both sides up to a defined date (believed to be June 30). Up until that time, neither party can officially negotiate with another," reports Hughes.

"Because the driver is effectively locking himself out of the market for that time, discussions for his post-2018 services are contractually 'owned' by the team (in this case Ferrari).

"As such, he will be paid a fee. Between now and then he and Ferrari can negotiate about a future contract. This is all conventional F1 practice.

"Those privy to such matters at Red Bull are adamant that he has definitely signed something, somewhere but it's not with them and it's not with Mercedes. Logically, therefore, it must be Ferrari."

Will Ricciardo team up with Sebastian Vettel at Ferrari.

Red Bull has said multiple times it wants the Aussie star to stay put, but Ricciardo is yet to give any guarantees, repeatedly saying performance will dictate where he ends up.

If Red Bull can offer him the tools to win a championship he sees no reason to leave. But if - as has happened in previous seasons - the energy drink outfit falls behind Mercedes and Ferrari, the Perth-born driver may seek greener pastures.

Ricciardo said last week he does not want his next contract to tie him down for the next four years due to the uncertainty over the sport's future. Instead, he wants a two-year deal.

"I don't want to sign anything too long because I don't know where the sport's going,"

The Times newspaper quoted him as saying. "I feel like life is happening pretty fast.

"Each year something might change so I don't want to tie myself down for four more years and then I'm like, 'I don't want to do this any more'.

"Ideally I'd sign a two-year contract.

"I think two years I can definitely be comfortable with and then see it from there.

"That third year will be the rule change so I will probably wait and see what happens then."